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NYC's Stuyvesant Town Said for Sale With Blackstone Weighing Bid

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Manhattan’s Stuyvesant Town-Peter Cooper Village apartment complex is being prepared for a sale, five years after its prior owners defaulted on the mortgage and walked away from the property in one of the biggest collapses from the last decade’s real estate boom. CWCapital Asset Management, the loan servicer that has been in control of Stuyvesant Town on behalf of bondholders, has hired Eastdil Secured LLC to advise on the sale of the 80-acre (32-hectare) property, which is expected to fetch $5 billion to $6 billion, according to a person with knowledge of the situation. Blackstone Group LP is among the companies in talks for a deal,...

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